Exclusive: Warby Parker Seeks to Raise $75 Million
Warby Parker is looking to raise $75 million for its Series E round of financing, Cheddar has learned.
The eyewear company disclosed its plans to raise money in a filing with the state of Delaware on March 7 that was signed by its president Neil Blumenthal and provided to Cheddar by [Lagniappe Labs](https://primeunicornindex.com/).
A spokesperson for Warby Parker didn't respond to a request for comment.
The company last raised $100 million in 2015 for its Series D at a $1.2 billion valuation. It's is seeking a higher share price for its Series E, which indicates that its valuation will likely be higher after it completes the financing round.
Since last raising money, Warby Parker has significantly expanded its retail footprint and plans to have nearly 100 stories open in the U.S. by the end of 2018. Last year it opened a $16 million optical lab dedicated to building its own glasses in-house. And in January, it started selling products for kids for the first time.
Warby Parker has raised $216 million in total since its founding in 2010 from investors such as General Catalyst, T. Rowe Price, and Lerer Hippeau Ventures.
*Reporting by Alex Heath*
Bambu Ventures's Kyle Pretsch dives into Lemonaid’s $10M buyout, down from 23andMe’s $400M price tag, and what’s next after Chrome Co.’s dramatic pivot.
Former Cisco Systems CEO John Chambers learned all about technology’s volatile highs and lows as a veteran of the internet’s early boom days during the late 1990s and the ensuing meltdown that followed the mania. And now he is seeing potential signs of the cycle repeating with another transformative technology in artificial intelligence. Chambers is trying take some of the lessons he learned while riding a wave that turned Cisco into the world's most valuable company in 2000 before a crash hammered its stock price and apply them as an investor in AI startups. He recently discussed AI's promise and perils during an interview with The Associated Press.
Grove Collaborative’s CEO shares how the company is reinventing everyday goods with sustainability at the core and working toward a plastic-free future.
Atlanta Mayor Andre Dickens shares plans for affordable housing, community-led growth, and why private and public grocery stores could be key to food equity.
Tesla reported a surprise increase in sales in the third quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday that sales in the three months through September rose 7% compared to the same period a year ago. The gain follows two quarters of steep declines as people turned off by CEO Elon Musk’s foray into right-wing politics avoided buying his company’s cars and even protested at some dealerships. Sales rose to 497,099 vehicles, compared with 462,890 in the same period last year.
Tom’s Guide Editor-in-Chief Mark Spoonauer breaks down Apple & Amazon's latest product drops—what's hot, what's hype, and what really matters for users.
